In December of 2014, we
posted a blog regarding allegations against J.P. Morgan Securities, LLC and one of the firm’s registered
representatives, Robert Owen Klein (CRD# 1254422). At the time, Klein
was accused of investing roughly 40% of his clients’ assets in short
selling treasury bonds. As a result, the concentrated investments resulted
in over $1 million in losses for the clients.
Since our last blog, Klein has been the subject of additional customer
complaints, including one in which a client alleges breach of fiduciary
duty, breach of contract, negligence, and making unsuitable investment
In October of 2015, a customer complaint against J.P. Morgan Securities
LLC. alleged losses of $1.75 million for Klein’s misrepresentation,
breach of fiduciary duty in connection with unsuitable investments, improper
allocation of assets, misrepresentation, and omissions of information.
The customer was awarded $1,150,141.60 in an arbitration against Klein’s
member firm, J.P. Morgan Securities LLC., as a result of his alleged misconduct.
According to his BrokerCheck report provided by the Financial Industry
Regulatory Authority (FINRA), Klein has been the subject of 11 total customer